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RESOLUTION 2012 — 8 <br />RESOLUTION ADOPTING FIREFIGHTER RELIEF PENSION FISCAL POLICY <br />WHEREAS, the City Council deems it advisable and in the best interest of the City of Hugo to adopt <br />policies relating to the Hugo Firefighter's Relief Association; and <br />WHEREAS, the City Council intends that these policies not be construed as exclusive but instead to <br />provide general guidelines for addressing pension benefit levels and funding mechanisms; and <br />WHEREAS, in enacting these policies, the City Council acknowledges that variations may be <br />required depending on current fiscal conditions. <br />NOW, THEREFORE, IT IS HEREBY RESOLVED by the City Council of the City of Hugo, <br />Washington County, Minnesota, as follows: <br />SECTION 1: OPTIMUM PENSION BENEFIT LEVEL <br />The optimum pension benefit level is the average lump -sum benefit provided by relief associations that <br />receive state fire aid within 10% of the amount received by the Hugo Firefighter's Relief Association, as <br />last reported by the Office of the State Auditor. <br />SECTION 2: PENSION BENEFIT LEVEL INCREASES <br />The lump -sum pension benefit will increase $200 in 2012 and $100 annually thereafter through calendar <br />year 2015. Pension benefit increases must be ratified by the City Council on an annual basis. <br />SECTION 3: MUNCIPAL BUDGET and TAX LEVY <br />The City will levy property taxes in an amount equal to the Public Employees Retirement Association <br />(PERA) employer percentage for coordinated fund members as applied to total fire department wages <br />and salaries. These funds will be segregated in a special revenue fund and will be used to (1) make <br />municipal contributions to the pension fund as required by state statutes, and (2) make municipal <br />contributions to the pension fund to ensure the pension benefit increases as referred to in Section 2. The <br />City Council must approve all contributions to the relief association from this fund. <br />Upon roll call, the following Members voting AYE: Klein, Petryk, Weidt, Haas, and Miron <br />Upon roll call, the following Members voting NAY: None <br />Whereupon said resolution was declared passed and adopted this 2nd day of April, 2012. <br />4Franiron., Mayor <br />ATTEST: <br />�:__ ------ - - ----------- <br />Michele Lindau, City Clerk <br />